Tune up your guitar and prepare for some actual learning my friends. I know I have been a bit of a tease over the past two lessons, but trust me, I always put out. I'm a filthy tramp like that. Now we move onto chords.
If you are asking yourself, When is he going to get to the shredding?', then you need to quiet yourself son. That comes later. I personally believe that rhythm and chord knowledge will benefit you immensely compared to learning the Phrygian Dominant scale played at 666 bpm. So we shall begin with Open Chords' also known as Cowboy Chords'.
For the most part, chords are broken down into 2 categories: Major or Minor. That's it. No matter how crazy a chord name will seem (such as Amaj add9), it will always boil down to either Major or Minor.
Commit the following essential Major chords to memory.

Now to silence the Naysayers: Keep in mind that the fingerings that I have outlined are mere recommendations. If you find it easier to use different fingers on different strings, so be it. Additionally, some people add different notes or what-have-you to make these chords sound fuller, my chords above are merely a suggestion to get you started. I am only listing a few chords for now because they are the most essential. Rest assured, I will write a more complete chord lesson later.
Now practice the following progressions:

Alright hippie, go learn some more songs. The following are some bands that use open chords pretty often:
Red Hot Chili Peppers (Stadium Arcadium specifically)
Neil Young
Bob Dylan
Johnny Cash
The Eagles